HB0010 - Tennessee - Food And Food Products, Local Government, General, Taxes, Taxes, Sales

Taxes, Sales - Reduces incrementally, by 0.5 percent each year, the state sales tax rate on food until no state sales tax is levied on food in 2018; maintains local option sales tax on food; states intent that streamlined sales tax agreement not affect the reduction. - Amends TCA Title 67, Chapter 6. Fiscal Summary for HB0010 / *SB0062(CORRECTED) Decrease State Revenues - $38,855,000 - FY07-08 $78,681,000 - FY08-09 $119,503,000 - FY09-10 $161,346,000 - FY10-11 $204,235,000 - FY11-12 $248,196,000 - FY12-13 $293,255,000 - FY13-14 $339,442,000 - FY14-15 $386,783,000 - FY15-16 $435,307,000 - FY16-17 $485,045,000 - FY17-18 $536,026,000 - FY18-19 and thereafter Decrease Local Govt. Revenues - $1,870,000 - FY07-08 $3,787,000 - FY08-09 $5,751,000 - FY09-10 $7,765,000 - FY10-11 $9,829,000 - FY11-12 $11,945,000 - FY12-13 $14,114,000 - FY13-14 $16,337,000 - FY14-15 $18,615,000 - FY15-16 $20,950,000 - FY16-17 $23,344,000 - FY17-18 $25,798,000 - FY18-19 and thereafter [...]

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